Season 2 · Episode 2
SEC Innovation Exemption: Tokenized Stocks Get a 5-Year Onchain Lane
Summary
The SEC just opened a five-year lane for tokenized NMS stocks — Release 2026-90’s “Innovation Exemption.” In this OnlyFintechs episode we break down Tokenized Securities Venues (TSVs), permissioned AMM liquidity pools, and why this is not unregulated DeFi for Apple stock.
What you’ll learn: same rights as traditional NMS shares; issuer notice/objection; public auditable smart contracts; halt with the listing exchange; parallel dealer exemption for AMM LPs; five-year clock + comment period.
Keywords: SEC, Innovation Exemption, tokenized stocks, NMS, TSV, AMM, onchain equities, Atkins, capital markets, OnlyFintechs.
#Fintech #SEC #Tokenization #NMS #Onchain #CapitalMarkets #Crypto #Regulation
0
:00 Intro: the SEC's innovation exemption
Chapters
- 2:11Why the SEC acted: Project Crypto and a stalled Clarity Act
- 4:24New venues: TSVs, covered firms and AMMs
- 7:31Public blockchain, permissioned access
- 9:36What can trade: tokenized NMS stocks only
- 11:09Issuers' right to object
- 13:26The five-year clock and industry reaction
- 15:49Instant settlement and fractional shares
